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Star Bulk Carriers (SBLK)
:SBLK
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Star Bulk Carriers
(NASDAQ:SBLK)
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Rating:66Neutral
Price Target:
$19.50
▲(11.75% Upside)
Star Bulk Carriers' overall stock score is influenced primarily by its financial performance challenges, including declining revenue and profitability margins. However, the company maintains operational efficiency and a strong equity base. The earnings call provided a positive outlook with strong liquidity and successful cost synergies, which helped offset some of the financial challenges. The technical analysis indicates a lack of strong momentum, and the valuation suggests the stock is fairly priced with an attractive dividend yield.
Star Bulk Carriers (SBLK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.09B
Dividend Yield4.33%
Average Volume (3M)844.17K
Price to Earnings (P/E)17.3
Beta (1Y)1.09
Revenue Growth2.95%
EPS Growth-61.74%
CountryUS
Employees301
SectorIndustrials
Sector Strength72
IndustryMarine Shipping
Share Statistics
EPS (TTM)0.11
Shares Outstanding114,585,310
10 Day Avg. Volume618,413
30 Day Avg. Volume844,168
Financial Highlights & Ratios
PEG Ratio0.08
Price to Book (P/B)0.64
Price to Sales (P/S)1.26
P/FCF Ratio3.88
Enterprise Value/Market Cap1.40
Enterprise Value/Revenue2.59
Enterprise Value/Gross Profit12.12
Enterprise Value/Ebitda7.65
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Star Bulk Carriers Business Overview & Revenue Model
Company DescriptionStar Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. The company's vessels transport a range of major bulks, including iron ores, coal, and grains, as well as minor bulks, such as bauxite, fertilizers, and steel products. As of December 31, 2021, it had a fleet of 128 vessels with an aggregate capacity of approximately 14.1 million deadweight tons, including 17 Newcastlemax, 24 Capesize, 7 Post Panamax, 41 Kamsarmax, 2 Panamax, 20 Ultramax, and 17 Supramax vessels. The company also provides vessel management services. Star Bulk Carriers Corp. was incorporated in 2006 and is based in Marousi, Greece.
How the Company Makes MoneyStar Bulk Carriers generates revenue primarily through the chartering of its vessels for the transportation of dry bulk commodities. The company operates under various charter arrangements, including time charters and voyage charters. In time charters, SBLK leases its ships for a specified period, receiving a fixed daily rate. In voyage charters, the company is paid a fee for transporting cargo from one port to another, with rates often linked to market conditions. Additionally, Star Bulk may enter into contracts of affreightment, where it commits to transporting a certain volume of cargo over a period, securing predictable revenue streams. The company's earnings are significantly influenced by global shipping demand, commodity prices, and operational efficiency. Strategic partnerships with commodity traders and industrial clients also enhance revenue stability and growth opportunities.
Star Bulk Carriers Earnings Call Summary
Earnings Call Date:Aug 06, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 18, 2025
Earnings Call Sentiment Positive
The earnings call reflects a positive outlook for Star Bulk Carriers, with strong liquidity, successful cost synergies, and an optimistic market outlook. However, challenges remain with low net income, high debt levels, and a decline in Chinese dry bulk imports. Overall, the highlights outweigh the lowlights, indicating a generally positive sentiment.Q2-2025 Updates
Positive Updates
Adjusted Net Income Growth
Adjusted net income for Q2 2025 was $13.2 million, or $0.11 per share.
Strong Liquidity Position
Total cash stands at $407 million, with additional liquidity from undrawn revolver facilities totaling more than $0.5 billion.
Successful Cost Synergy Realization
Over $53 million of cumulative cost synergies have been achieved since April 2024, with $13 million of synergies realized in Q2 2025.
Significant Share Buybacks
Repurchased 3.3 million shares for a total of $54 million during the quarter.
Fleet Modernization and Sales
Continued disposal of older vessels, with expected net sales proceeds of $104 million during Q3 and Q4 2025.
Positive Market Outlook
Optimistic about medium to long-term market outlook supported by favorable supply outlook and stricter environmental regulations.
Negative Updates
Low Net Income
Net income for Q2 2025 was only $40,000.
Decline in Chinese Dry Bulk Imports
Chinese dry bulk imports contracted by 4.2% year-over-year in the first half of 2025.
Projected Contraction in Key Trades
Coal trade is projected to contract by 5.8% in tons and by 7.6% in ton-miles during 2025.
High Debt Levels
Total debt stands at $1.12 billion.
Company Guidance
During the Star Bulk Carriers conference call for the second quarter of 2025, the company reported a net income of $40,000, with an adjusted net income of $13.2 million or $0.11 per share. The adjusted EBITDA was $69 million, and a dividend of $0.05 per share was declared, payable on September 10. The company repurchased 3.3 million shares for $54 million, with total cash standing at $407 million and total debt at $1.12 billion. They have pro forma liquidity of over $0.5 billion, including undrawn revolver facilities of $115 million. The time charter equivalent rate was $13,624 per vessel per day, while combined daily operating and G&A expenses were $6,277 per vessel. Since 2021, net debt has been reduced by 46% to $5.3 million per vessel. The company has achieved over $53 million in cumulative cost synergies post-Agle acquisition, with $13 million saved in Q2 2025 alone. Total dry dock expenses for the year are estimated at $33 million for 30 vessels, with approximately 1,000 off-hire days anticipated. The company also highlighted that the global dry bulk trade is expected to contract by 0.9% in 2025, while ton-miles are projected to grow by 0.2%.Star Bulk Carriers Financial Statement Overview
Summary
Star Bulk Carriers faces challenges with declining revenue and profitability margins, but maintains operational efficiency and a strong equity base. The balance sheet is stable with moderate leverage, while cash flow generation has weakened. The company needs to address revenue growth and cash flow management to improve its financial standing.Income Statement
Star Bulk Carriers has experienced a decline in revenue growth, with a negative growth rate of -8.53% in the TTM period. Margins have also decreased compared to previous years, with the gross profit margin at 21.39% and net profit margin at 10.98%. However, the company maintains a reasonable EBIT margin of 18.49% and EBITDA margin of 33.88%, indicating operational efficiency despite revenue challenges.65
Positive
Balance Sheet
The company's debt-to-equity ratio is at a moderate level of 0.56, showing a balanced approach to leveraging. Return on equity has decreased to 5.05% in the TTM period, reflecting lower profitability. The equity ratio stands at 61.70%, indicating a strong equity base relative to total assets, which provides financial stability.70
Positive
Cash Flow
Free cash flow has decreased by 21.65% in the TTM period, indicating potential cash flow challenges. The operating cash flow to net income ratio is 0.81, suggesting that operating cash flow is lower compared to net income. The free cash flow to net income ratio is healthy at 0.89, showing that the company generates substantial free cash flow relative to its net income.60
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.13B | 1.27B | 949.27M | 1.44B | 1.43B | 693.24M |
| Gross Profit | 241.99M | 582.64M | 394.75M | 820.71M | 930.25M | 242.76M |
| EBITDA | 383.24M | 504.86M | 334.84M | 765.78M | 887.19M | 208.94M |
| Net Income | 124.22M | 304.65M | 173.56M | 566.00M | 680.53M | 9.66M |
Balance Sheet | ||||||
| Total Assets | 3.89B | 4.09B | 3.03B | 3.43B | 3.75B | 3.19B |
| Cash, Cash Equivalents and Short-Term Investments | 396.61M | 425.07M | 259.73M | 284.32M | 450.29M | 190.51M |
| Total Debt | 1.36B | 1.46B | 1.26B | 1.29B | 1.59B | 1.56B |
| Total Liabilities | 1.49B | 1.60B | 1.37B | 1.41B | 1.67B | 1.64B |
| Stockholders Equity | 2.40B | 2.48B | 1.66B | 2.02B | 2.08B | 1.55B |
Cash Flow | ||||||
| Free Cash Flow | 282.59M | 412.28M | 317.69M | 744.50M | 636.92M | 98.49M |
| Operating Cash Flow | 317.29M | 467.38M | 335.78M | 769.90M | 767.07M | 170.55M |
| Investing Cash Flow | 123.45M | 356.18M | 235.52M | -20.87M | -121.26M | -66.33M |
| Financing Cash Flow | -495.51M | -644.42M | -595.89M | -935.95M | -368.07M | -34.95M |
Star Bulk Carriers Technical Analysis
Neutral
17.45
Price Trends
18.63
Negative
18.37
Negative
16.86
Positive
Market Momentum
-0.02
Negative
50.92
Neutral
81.85
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SBLK, the sentiment is Neutral. The current price of 17.45 is below the 20-day moving average (MA) of 17.82, below the 50-day MA of 18.63, and above the 200-day MA of 16.86, indicating a neutral trend. The MACD of -0.02 indicates Negative momentum. The RSI at 50.92 is Neutral, neither overbought nor oversold. The STOCH value of 81.85 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SBLK.
Star Bulk Carriers Risk Analysis
Star Bulk Carriers disclosed 54 risk factors in its most recent earnings report. Star Bulk Carriers reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Star Bulk Carriers Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | $1.67B | 3.75 | 13.38% | 3.74% | 5.63% | -17.54% | |
| ― | $1.49B | 5.25 | 14.61% | 3.76% | -7.24% | -16.39% | |
| ― | $2.09B | 17.27 | 5.11% | 4.33% | 2.95% | -61.74% | |
| ― | $1.40B | 4.84 | 9.89% | 0.42% | -0.47% | -22.23% | |
| ― | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
| ― | $986.24M | 28.49 | 3.35% | 13.59% | 3.51% | -74.09% |
* Industrials Sector Average
SBLK
Star Bulk Carriers
18.26
0.10
0.55%
CMRE
Costamare
12.43
2.59
26.32%
DAC
Danaos
90.96
12.35
15.71%
NMM
Navios Maritime Partners
48.50
-5.07
-9.46%
SFL
SFL Corporation
7.43
-2.09
-21.95%
Star Bulk Carriers Corporate Events
Star Bulk Carriers Reports Q2 2025 Results and Declares Dividend
Aug 7, 2025
On August 6, 2025, Star Bulk Carriers Corp. announced its unaudited financial results for the second quarter of 2025, reporting a net income of $0.04 million and declaring a quarterly dividend of $0.05 per share. Despite a challenging market environment, the company continued its capital returns strategy, repurchasing 3.3 million shares and selling nine vessels to enhance liquidity. Star Bulk remains optimistic about the long-term prospects of the dry bulk market, supported by a strong balance sheet and strategic flexibility.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.